Time ticking on France's deficit

The clock is ticking for France after the European Commission gave Paris three months to present a set of structural reforms or face sanctions.

After giving France a further two years, until 2017, to bring its deficit under the three percent threshold, to 2.8 percent of the GDP, the European Commission on Friday said Paris must reduce French structural deficit by 0.5 % of GDP in 2015, 0.8 % in 2016 and 0.9% in 2017.

It gave France until 10 June "to take effective action and to re...